IES Holdings Completes Acquisition of DBM Global
IES Holdings closed its ~$691 million acquisition of DBM Global, its largest deal to date, adding a vertically integrated structural steel fabrication and erection platform as a new Structural segment. Consideration comprised ~$545 million in cash (funded with cash on hand and expanded Wells Fargo credit-facility borrowings) plus 430,974 IES shares valued at ~$146 million, including a $35 million payment to majority holder INNOVATE Corp (NYSE: VATE) tied to a Section 338(h)(10) tax election.
Key figures
- Deal Value Usd
- 691000000
- Dbm employees
- approximately 4,000
- Cash consideration
- $545 million
- Dbm trailing revenue
- $1.5 billion
- Equity consideration
- 430,974 IES shares valued at ~$146 million
- Section 338 h10 payment
- $35 million
AI analysis
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